Adams Distinguished Professor of Management, Emeritus, Stanford Graduate School of Business
2016 CME Group-MSRI Prize in Innovative Quantitative Applications Recipient
Robert Wilson’s research focuses on game theory and its applications in economics, such as design of auctions and related markets. A theme of his joint work with David Kreps was dynamic effects of different information among economic agents, and with Srihari Govindan, foundational studies of axiomatic criteria for selecting among equilibria. His recent research studies sufficient conditions for repeated interactions to sustain cooperative behaviors.
He has co-authored some of the basic studies of reputational effects in predatory pricing, price wars, and other competitive battles. He has contributed to auction designs and competitive bidding strategies in the oil, communication, and power industries. His work includes studies of wage bargaining and strikes, and in legal contexts, settlement negotiations.
Wilson has been at the Stanford Business School since 1964. He is a member of the National Academy of Sciences, a distinguished fellow of the American Economic Association, former president of the Econometric Society, recipient of honorary degrees from the Norwegian School of Economics and the University of Chicago, and winner of the Foundation BBVA Frontiers of Knowledge prize in finance and economics. His book on nonlinear pricing won the University of Chicago’s Melamed prize.
The CME Group-MSRI Prize in Innovative Quantitative Applications was founded in 2006 by CME Group’s Chairman Emeritus, Leo Melamed. CME Group, in partnership the esteemed Mathematical Sciences Research Institute, awards this prize annually to a recipient with exemplary work in the field of mathematical sciences and who recognizes the vital impact quantitative research and application play in shaping global financial markets. It recognizes an individual or group who has contributed and applied original and significant ideas and concepts to quantitative fields such as mathematics, statistics and computing for the study of market’s behavior and global economics.
The 2016 CME Group-MSRI Prize was presented to Robert Wilson at the annual award luncheon in Chicago on February 2, 2017.
The Mathematical Sciences Research Institute (MSRI) is one of the world’s preeminent centers for collaborative research in mathematics. Since 1982, MSRI’s topic-focused programs have brought together emerging and leading minds in mathematics, in an environment that promotes creativity and the interchange of ideas. Over 1,700 mathematical scientists spend time at MSRI’s Berkeley, California-based headquarters each year. MSRI is known around the world for the quality and reach of its programs and its leadership in basic research, mathematics education, and programs for the public understanding of mathematics. www.msri.org
* Past CME Group-MSRI Prize winners have included distinguished luminaries in economics and mathematics. Five out of 10 of these past recipients have gone on to receive the Nobel Prize in Economic Sciences.
2015 | Douglas Diamond
Fischer Black Visiting Professor of Financial Economics, MIT Sloan School of Management, 2015-2016 and Merton H. Miller Distinguished Service Professor of Finance, University of Chicago
2012 | Robert J. Shiller
Nobel Laureate in Economic Sciences (2013), Sterling Professor of Economics,Yale University, and Professor of Finance and Fellow at the International Center for Finance, Yale School of Management
2011 | Thomas J. Sargent
Nobel Laureate in Economic Sciences (2011), William R. Berkley Professor of Economics and Business, Stern School of Business, New York University, and Senior Fellow at the Hoover Institution
2010 | Jean Tirole
Nobel Laureate in Economic Sciences (2014), Scientific Director of the Industrial Economics Institute at the University of Toulouse Capitole, Member of the Toulouse School of Economics
Throughout history, CME Group has continually embraced change and fostered an entrepreneurial spirit that has enabled the futures industry to grow and prosper. To a greater extent, the power of innovation has proven its ability to transform business, influence the direction of civilization and alter its reality for the better. CME Group’s Center for Innovation (CFI) creates and sponsors thought-provoking original programming that identifies, showcases and fosters examples of significant innovation and creative thinking across multiple industries in both the public and private sectors. Each program explores and communicates the principles behind innovation, and more importantly, showcases their application to a broad and diverse audience.
The CME Group-MSRI Prize in Innovative Quantitative Applications a signature program of the CFI. Read more about CFI here.